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Technology Stocks : CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST!
QCOM 176.31+1.9%Jan 5 3:59 PM EST
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To: Maurice Winn who wrote (1061)10/27/1996 9:59:00 AM
From: Harvey Rosenkrantz   of 1819
 
Its nice to know that your biggest customer has the wherewithal to pay its bills. $10 billion approaches "real money".

> KANSAS CITY, Mo., Oct. 24
> Sprint Spectrum L.P., which will market its
> personal communication services (PCS) under the name
> Sprint PCS, announced today that it has closed three
> credit agreements which, collectively, provide the
> company with $5.1 billion in financing availability.
> The credit agreements consist of a $2 billion senior
> secured credit agreement arranged by The Chase
> Manhattan Bank, a $1.8 billion senior secured credit
> agreement with Lucent Technologies Inc. and a $1.3
> billion senior secured credit agreement with Northern
> Telecom Inc. (Nortel).
>
> Robert M. Neumeister, chief financial officer of
> Sprint PCS, said: "These financing agreements,
> coupled with the $750 million public debt offering
> concluded in August and the commitment of Sprint
> PCS's four partners to fund $4.2 billion in equity,
> gives Sprint PCS $10 billion of capitalization with
> which to construct its nationwide network and launch
> its state-of-the-art wireless personal communication
> services. We believe that having this level of
> financing in place sends a strong signal that Sprint
> PCS is a major contender in the wireless market."
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